NTPC to invest over $24bn in Madhya Pradesh

NTPC Limited, along with its subsidiary NTPC Green Energy Ltd (NGEL), has committed to investing over Rs 2 Lakh Crore (approximately $24 billion USD) in renewable energy projects in Madhya Pradesh. The agreements, signed during the Global Investors Summit in Bhopal, include solar, wind, pumped hydro, and other carbon-neutral energy projects. NGEL will partner with Madhya Pradesh Power Generating Company Limited (MPPGCL) to develop renewable energy projects up to 20 GW, requiring an investment of Rs. 1,20,000 Crore, forming a Joint Venture Company (JVC). NTPC will also invest Rs. 80,000 Crores in other sustainable non-fossil fuel power plants, Rs 4,000 Crores in a pumped hydro storage project (800MW). Additionally, NTPC has appointed M/s Agarwal S. & Associates as Secretarial Auditor for the Financial Year 2024-25. NTPC aims to reach 60 GW of renewable energy capacity by 2032.